Entries for Issuing and Calling Bonds; Loss Hoover Corp., a wholesaler of music equipment, issued $8,340,000 of 25-year, 8% callable bonds on March 1, 20Y2, at their face amount, with interest payable on Man 1 and September 1. The fiscal year of the company is the calendar year. 2012 Mar. 1 Issued the bonds for cash at their face amount. Sept. 1 Paid the interest on the bonds. 2014 Sept. 1 Called the bond issue at 102, the rate provided in the bond indenture. (Omit entry for payment of interest.) If an amount box does not require an entry, leave it blank. Journalize the entries to record the above selected transactions. Issued the bonds for cash at their face amount. 2012 Mar. 1 Paid the interest on the bonds. 2012 Sept. 1 Called the bond issue at 102, the rate provided in the bond indenture. (Omit entry for payment of interest.) 2014 Sept. 1 Check My Work 1000 000

Entries for Issuing and Calling Bonds; Loss Hoover Corp., a wholesaler of music equipment, issued $8,340,000 of 25-year, 8% callable bonds on March 1, 20Y2, at their face amount, with interest payable on Man 1 and September 1. The fiscal year of the company is the calendar year. 2012 Mar. 1 Issued the bonds for cash at their face amount. Sept. 1 Paid the interest on the bonds. 2014 Sept. 1 Called the bond issue at 102, the rate provided in the bond indenture. (Omit entry for payment of interest.) If an amount box does not require an entry, leave it blank. Journalize the entries to record the above selected transactions. Issued the bonds for cash at their face amount. 2012 Mar. 1 Paid the interest on the bonds. 2012 Sept. 1 Called the bond issue at 102, the rate provided in the bond indenture. (Omit entry for payment of interest.) 2014 Sept. 1 Check My Work 1000 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A
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